Which of the following best identifies when an encumbrance is recorded?

a$.$ When goods or services are received.

b$.$ When an obligation is incurred that will be paid from current financial resources.

c$.$ When legislative authority has been granted to spend resources.

d$.$ When goods or services are ordered.

d$.$ When goods or services are ordered.

Supplies ordered by the Public Works function of the General Fund were received at an actual price that was less than the estimated price listed on the purchase order. What effect will this have on Public Work's appropriations available balance?

a$.$ Increase

b$.$ Decrease

c$.$ No effect

d$.$ Insufficient information to determine the effect

d$.$ Insufficient information to determine the effect